Ever check out the sticker price on a favorite new car and think, “You could buy a house for that”?
The truth is, you probably can.
Whether you’re looking for an uber-practical economy car, a little German engineering or your dream sports machine, you can probably find a home, second home or vacation getaway in that same price range.
Compare today’s low mortgage rates
But only if you make that buy as an all-cash purchase. Add financing and all bets are off.
While a $40,000 home would cost you around $200 a month at today’s best interest rates with a 30-year mortgage, a $40,000 car would set you back $889 a month with a four-year loan.
Ever wonder just how much house your current car budget would buy? Take a look: Here are six affordable homes that are for sale or were recently sold, alongside cars with the same general price. Which would you want to take for a spin?